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Fragmented property ownership and the High Street

Fragmented property ownership and the High Street. Martyn Chase Stanhope plc Future High Streets Forum British Property Forum. Fragmented Ownership: issues. High Streets under stress Empty properties London’s town centres face different challenges Poor asset management

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Fragmented property ownership and the High Street

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  1. Fragmented property ownership and the High Street Martyn Chase Stanhope plc Future High Streets Forum British Property Forum

  2. Fragmented Ownership: issues • High Streets under stress • Empty properties • London’s town centres face different challenges • Poor asset management • Fragmented ownership • CLG suggested ‘pooling’ properties • Peter Brett Associates propose TCIM • Future High Streets Forum investigating

  3. Fragmented Ownership: JV • JV for property ownership • Organisation and skills to manage property • Scope and critical mass • Funding • Benefits • Co-ordinated asset management • Better tenant mix; less vacancy • Better town centre performance • Added value for investment • Long term business plan

  4. Fragmented ownership: pilot studies • 3 Pilot studies: leadership/funding under review • Location and area • Mix of occupiers and uses • Public realm, parking and access • Local leadership • Extending the role of BIDS into property ownership • Establishing the JV

  5. Fragmented ownership: the JV • The vehicle and how it will operate • Purchase property or pool property or both? • A local vehicle: who to be involved? • Raising finance: loans and equity • A national fund • Business Plan

  6. Fragmented ownership: views • Merits of the idea • How important is this issues? • How challenging is the JV idea? • Extending the role of BIDS? • Particular issues for London town centres?

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